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Banned Crypto-Miners Siphoning Power from Chinese Public Firms

October 19, 2021
Source: techcratic.com techcratic.com
News Snapshot:
Ryan Whitwam 2021-10-18 09:00:57 feedproxy.google.com [Terms of use] . China was once a burgeoning hub for digital currencies, but the country recently came out against cryptocurrency. With transactions and mining banned, officials are on the hunt for illegal crypto operations, and extreme power usage often points the way. As reported by Bloomberg , two provinces have found that a substantial chunk of illegal mining was happening at public institutions. Naturally, the government aims to put a stop to that. As recently as last year, China accounted for the majority of Bitcoin hash rates. Since then, mining has moved to other...
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Tags: bitcoin | blockchain | Bloomberg | China | Chinese | Computing | crackdown | crypto | cryptocurrency | currency | digital | energy | fintech | Google | government | GPU | hardware | illegal | IP | Jiangsu | LED | loans | online | search engine | Zhejiang

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